|
FY2025
12 months to Dec 31, 2025
|
FY2024
12 months to Dec 31, 2024
|
|
|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income (loss) | ||
| Net loss | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depletion, depreciation, amortization, and accretion | ||
| Amortization of right-to-use asset | ||
| Loss on Debt Extinguishment | ||
| Change in fair value of derivative asset | ||
| Change in fair value of derivative liability | ||
| Provision for credit losses | ||
| Bad debt expense | ||
| Deferred income tax benefit | ||
| Amortization of debt discount | ||
| Accrued interest expense on note payable and other current liabilities | ||
| Loss on investment in Joint Venture | ||
| Impairment on long-lived assets | ||
| Amortization of debt discount and debt issuance costs | ||
| Accrued interest on note payable and other current liabilities | ||
| Interest income on investments and notes receivable | ||
| Stock based compensation | ||
| Property assignment | ||
| Compensation - assignment of property | ||
| Changes in operating assets and liabilities: | ||
| Accounts receivable | ||
| Prepaid and other current assets | ||
| Accounts payable | ||
| Accrued liabilities | ||
| Deferred tax asset | ||
| Excise tax payable | ||
| Withholding tax payable | ||
| Due to related parties | ||
| Lease liability | ||
| Asset retirement obligations settled | ||
| Other liabilities – current | ||
| CASH USED IN OPERATING ACTIVITIES | ||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Investment in property, plant and equipment, net | ||
| Investment in Joint Venture | ||
| Investment in oil and natural gas properties | ||
| CASH USED IN INVESTING ACTIVITIES | ||
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Issuance of common stock | ||
| Proceeds from bridge financing | ||
| Proceeds from convertible note, net of transaction costs | ||
| Repayment of convertible note | ||
| Debt issuance costs | ||
| Proceeds from reverse recapitalization | ||
| Repayment of notes payable | ||
| Proceeds from related party | ||
| Repayment to related party | ||
| Issuance of related party loan | ||
| CASH USED IN FINANCING ACTIVITIES | ||
| Change in cash and cash equivalents | ||
| Cash, beginning of year | ||
| Cash, end of year | ||
| SUPPLEMENTAL CASH FLOW DISCLOSURES: | ||
| Cash paid for interest | ||
| SUPPLEMENTAL DISCLOSURES: | ||
| Debt converted to common stock | ||
| Asset retirement obligations sold recorded as a reduction of oil and natural gas properties | ||
| Revisions to asset retirement obligations | ||
| Issuance of shares of common stock to advisors |
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